Mickley Corporation produces two products, Alpha 6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis); look im Raw Material Standard Labor Time Product X442 Y661 Sintering Finishing Alpha 2.0 kilos 3.4 liters 0.20 hours 0.30 hours Leta? 4.0 kilos 5.0 liters 0.25 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Material Purchases Purchase cost Standard Price Used in production X442 15,900 kilos $ 55,650 3.30 per kilo 20,400 kilos 4661 16,900 Itera $ 23,660 $ 1.50 per liter 15,800 liter The following additional information is available: ence a. The company recognizes price variances when materials are purchased 6. The standard labor rate is $22.00 per hour in Sintering and $20.50 per hour in Finishing c. During May, 1.300 direct labor hours were worked in Sintering at a total labor cost of $31.720, and 3,040 direct labor hours were worked in Finishing at a total labor cost of $68,400 d. Production during May was 2,500 Alphaos and 1.400 Zeto7s, Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor 2. Compute the materials price and quantity variances for each material, 3. Compute the labor rate and efficiency variances for each operation my work Complete this question by entering your answers in the tabs below. Req1 Reg 2 Reg 3 Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. (Round youe answers to 2 decimal places.) Standard Standard Standard Quantity or Hours Price or Rate Cost Alpha: Direct materials X442 kilos per kilo Direct materials Y661 liters per liter Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total Zeta Direct materials-X442 kilos per kilo Direct materials-Y661 ters per or Direct labor-Sintering hours per hour Direct labor Finishing hours per hour Total Reg 2 > Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req3 Compute the materials price and quantity variances for each material. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (le, zero variance). Input all amounts as positive values.) Direct Materials Variances ---Material X442: Materials price variance Materials quantity variance Direct Material Variances -- Material Y661 Materials price variance Materials quantity varianco Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (t.e., zero variance). Input all amounts as positive values.) Direct Labor Variances ---Sintering: Labor rate variance Labor efficiency variance Direct Labor Variances --Finishing Labor rate variance Labor efficiency variance